A small coal supplying & delivery company is considering expanding their business to supply Eskom due...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A small coal supplying & delivery company is considering expanding their business to supply Eskom due to the worsening situation of load shedding in South Africa. They currently take orders telephonically by the salesperson and record them in a book with the person's name, telephone number, delivery address & amount payable. The order is then placed in a delivery list by the salesperson according to the vehicle availability and area of the customers. The order together with a handwritten invoice issued by the salesperson is issued to the driver to deliver the coal and to collect the cash from the customer before the load is offloaded. The driver then brings the cash back with a delivery note which is processed by the salesperson. Majority of sales is cash based and is deposited weekly by the salesperson. The owner asks you for assistance buy auditing the current business model to identify the weaknesses and propose an appropriate action to be taken. Identify at least five (5) weaknesses in the current receipt and revenue cycle and propose the corrective action for each weakness. Your response should be tabulated.. A small coal supplying & delivery company is considering expanding their business to supply Eskom due to the worsening situation of load shedding in South Africa. They currently take orders telephonically by the salesperson and record them in a book with the person's name, telephone number, delivery address & amount payable. The order is then placed in a delivery list by the salesperson according to the vehicle availability and area of the customers. The order together with a handwritten invoice issued by the salesperson is issued to the driver to deliver the coal and to collect the cash from the customer before the load is offloaded. The driver then brings the cash back with a delivery note which is processed by the salesperson. Majority of sales is cash based and is deposited weekly by the salesperson. The owner asks you for assistance buy auditing the current business model to identify the weaknesses and propose an appropriate action to be taken. Identify at least five (5) weaknesses in the current receipt and revenue cycle and propose the corrective action for each weakness. Your response should be tabulated..
Expert Answer:
Related Book For
Fundamentals of biochemistry Life at the Molecular Level
ISBN: 978-0470547847
4th edition
Authors: Donald Voet, Judith G. Voet, Charlotte W. Pratt
Posted Date:
Students also viewed these accounting questions
-
A student argued that aerobic and anaerobic respiration should produce the same amount of ATP. He reasoned that they both use basically the same process; only the terminal electron acceptor is...
-
Chromium is most toxic and highly soluble in its oxidized Cr(VI) state but is less toxic and less soluble in its more reduced Cr(III) state. Efforts to detoxify Cr-contaminated groundwater have...
-
Iron is obtained from iron ore by reduction with carbon monoxide. The overall reaction is Fe2O3(s) + 3CO(g) 2Fe(s) + 3CO2(g) Calculate the standard enthalpy change for this equation. See Appendix C...
-
What is the importance of developing plans to achieve organizational goals? explain with examples
-
The objective of the prototyping systems development methodology is to rapidly build and rebuild an information system as the user and systems analyst learn from use of the prototype what features...
-
Two cups are placed on a uniform board that is balanced on a cylinder (Fig. 6.40). The board has a mass of 2.00 kg and is 2.00 m long. The mass of cup 1 is 200 g and it is placed 1.05 m to the left...
-
Which of the following are debt investments an entity has both the positive intent and the ability to hold till maturity? a. Trading securities. b. Call options. c. Available-for-sale securities. d....
-
Capital Project Transactions. In 2011, Falts City began work to improve certain streets to be financed by a bond issue and supplemented by a federal grant. Estimated total cost of the project was...
-
What is the key provisions of the pension protection act of 2006 in America and UK ?
-
Albus was opening a landscaping business and planned on hiring 2 assistants. He advertised in the local newspaper and on an internet job site to find the right employees. Of the applicants, Albus...
-
A prospective client named Adzur Kricton contacts you to discuss being recently charged with possession of stolen merchandise. He continues to tell you that while he was at work on Tuesday, his...
-
Matrejek Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Estimated...
-
discuss the implications of the extended evolutionary synthesis, particularly in relation to concepts such as epigenetic inheritance, niche construction, and developmental plasticity, and how they...
-
Carla Vista Ltd. provides a defined contribution pension plan for its employees. Currently, the company has 47 full-time and 52 part- time employees. The pension plan requires the company to make an...
-
Muriel deposits $8600 today and is promised a return of $14620 in 8 years. What is the implied annual rate of return?
-
Use the following information to answer the question below nformation ($ thousands) Net sales Cost of goods sold Current Year $ 804,234 395,462 Prior Year $ 455,776 136,449 Determine the Prior Year...
-
Write an equation for a line perpendicular to y = -5x-5 and passing through the point (15,-1) y =
-
Suppose the index goes to 18 percent in year 5. What is the effective cost of the unrestricted ARM?
-
Describe how to select recombinant clones if a foreign DNA is inserted into the polylinker site of pUC18 and then introduced into E. coli cells.
-
Predict whether creatine kinase will operate in the direction of ATP synthesis or phosphocreatine synthesis at 25C when [ATP] = 4 mM, [ADP] = 0.15 mM, [phosphocreatine] = 2.5 mM, and [creatine] = 1...
-
Kidney cells contain a channel that allows intracellular ammonia to exit the cells. (a) Why did researchers originally believe that cells had no need for such a channel? (b) What is the free energy...
-
Compare different cooling schedule of simulated annealing.
-
Discuss the perturbation mechanism of simulated annealing.
-
What are the pros and cons of GA and SA? Can we conceive of a framework that combines the best of both worlds?
Study smarter with the SolutionInn App